Saudi Industrial Development Co. (SIDC) deepened its net loss after Zakat and tax to SAR 19 million in the first nine months of 2022, from SAR 11.8 million in the year-ago period due to an increase in operating expenses (OPEX) and lower sales.
| Item | 9m 2021 | 9m 2022 | Change |
|---|---|---|---|
| Revenues | 124.88 | 121.22 | (2.9 %) |
| Gross Income | 19.37 | 17.96 | (7.3 %) |
| Operating Income | (13.74) | (21.55) | (56.8 %) |
| Net Income | (11.80) | (19.04) | (61.3 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.30) | (0.48) | (61.3 %) |
In Q3 2022, net loss after Zakat and tax widened by 33.4% to SAR 7.7 million, from SAR 5.74 million in Q3 2021 on higher operating losses as a result of increased operating expenses.
Compared to Q2 2022, net losses increased from SAR 6.85 million due to higher operating losses.
| Item | Q3 2021 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 37.40 | 38.40 | 2.7 % |
| Gross Income | 4.22 | 5.73 | 35.8 % |
| Operating Income | (7.29) | (8.49) | (16.5 %) |
| Net Income | (5.74) | (7.66) | (33.4 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.14) | (0.19) | (33.4 %) |
| Item | Q2 2022 | Q3 2022 | Change |
|---|---|---|---|
| Revenues | 41.41 | 38.40 | (7.3 %) |
| Gross Income | 6.14 | 5.73 | (6.6 %) |
| Operating Income | (7.09) | (8.49) | (19.7 %) |
| Net Income | (6.58) | (7.66) | (16.3 %) |
| Average Shares | 40.00 | 40.00 | - |
| EPS (Riyals) | (0.16) | (0.19) | (16.3 %) |
Total shareholders’ equity, after minority interest, stood at SAR 194.7 million as of Sept. 30, 2022, compared to SAR 217.3 million in the year-earlier period.
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